Decentralized Bitcoin trading, what not to ignore?

Decentralized Bitcoin trading, what not to ignore? If you want to trade Bitcoin, scalping, day trading or you are already doing it, here is some important information.

Decentralized Bitcoin trading, what is it and is it possible?

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Bitcoin technical analysis – just below

In the news of decentralized finance, we talk a lot about NFT, Metaverse and other projects, but some people ask the question, is it possible to do decentralized trading and especially on Bitcoin?

While crypto-currencies can be used to purchase everyday items in some stores, they are more commonly traded as digital assets for investment profit.

Impressive profits can be made by buying and selling on crypto-currency exchanges. But prices can be very volatile, so you could lose a lot too.

Decentralized Bitcoin trading:

Bitcoin trading is how you can speculate on the price movements of the crypto-currency without necessarily buying Bitcoin. This is because traditionally, you would have to buy Bitcoin via an exchange, hoping that its price would rise over time. But now, those days are over, currently, crypto-currency traders are increasingly using derivatives to speculate on the rise and fall of prices – in order to make the most of Bitcoin’s volatility and without having to actually buy Bitcoin.

This allows one to trade Bitcoin in one’s own way, scalping, day trading, swing trading as one would with an index or gold.

Some people have already made their experience with a broker, they had to send money, after opening an account, and proceed to a lot of so-called security measures before they could actually trade. Then, once they made money, they were confronted with the broker’s system of claw backs.

In order to avoid all these procedures, and above all, in order not to need to trust a broker, by sending him his money, more and more traders are turning to decentralized trading.

At present, we can say that a good decentralized trading platform offers scalping, day trading and swing trading, as is the case with – gains.trade – dydx.exchange

Decentralized Bitcoin trading, the advantages:

The advantages of decentralized trading are obvious:

• no registration, no need to create an account
• high leverage if desired
• no sending money to a broker
• direct trading from your Metamask account, for example
• no need to apply to get your money back

You should know that on some platforms, you can do virtual trading, to familiarize yourself with the platform. Before you start trading for real, this option allows you to get used to the platform, which is recommended.

Another important point, you can also, on some decentralized trading platforms benefit from chat that allows you to communicate with other traders.

Therefore, yes, it is possible to trade Bitcoin on a decentralized trading platform and take advantage of the benefits offered by the blockchain and decentralization.

Now, you know, that when looking to trade Bitcoin, there is an alternative to using centralized exchanges to profit from the rise and fall of its price. You can trade on Bitcoin’s price movements via decentralized and leveraged trading.

For the record, it’s possible to trade dozens of different crypto-currencies as well as decentralized Forex trading.

Decentralized Bitcoin trading, technical analysis (daily)

Decentralized trading with bitcoin, should we refrain from taking a position or on the contrary, is it the right time to take a position?

Spot Bitcoin ETFs have been accepted and the price has surprised many people. In fact, the flow of funds into these ETFs will take place over a period of time, so the impact on the price will be positive but gradual.

Bitcoin Price Analysis (Daily)

Bitcoin’s daily price has steadily decreased from the $68,600 area, reaching the $63,800 zone. The rebound from this support was quick, as a few hours later, it returned to the $67,000 area.

Bullish Outlook

For a new upward move, it’s crucial to break through $68,800 with volume and stay above this level. Reaching these levels could lead us to revisit the $70,000 zone. The pivot support area is at $65,000.

The price has tried several times to surpass $68,000 but has been pushed back each time. Now that the bearish pressure has diminished, we can hope that the next attempt or the one after will be successful in reaching $70,000.

Bearish Outlook

It’s essential for the support at $66,000 and then $65,000 to hold. If these levels give way, the next support zone is around $63,000.

Trading Strategy

Trading Bitcoin is a delicate decision at the moment. After such a decline, be aware that Bitcoin’s price will need a breather.

Waiting for confirmation that the $68,000 – $69,000 range becomes solid support is advisable if you wish to position yourself for an upward move.

Moving Averages

The 20-day and 50-day moving averages are still trending downwards. Monitor the 20-day MA (green) to see if it crosses above the 50-day MA to signal a return to a bullish trend.

In Summary Key supports to watch on the downside:

• $66,000
• $65,000
• $63,000

Targets on the upside:

• First resistance zone around $68,500
• Target zone between $70,000 and $71,000

Want to trade BITCOIN, without a broker, in a 100% decentralized way?

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What’s true for Bitcoin is often true for other cryptocurrencies, with a few exceptions. This is the reasoning of a good trader, not a casino gambler, and I have nothing against the latter, but you just have to act according to who you are. If you gamble, then don’t be surprised if you lose; otherwise, the trader waits for his chances of winning to be maximized, which frankly isn’t the case at the moment.

WARNING!

1. Trading with or without leverage is risky, you can lose everything you trade.

2. If you live in the USA or are American, you cannot trade on this platform

Discover the largest community of traders who have chosen trading without a broker, without an account and 100% decentralized.

Decentralized trading with leverage